Figure Technology Solutions (NASDAQ:FIGR) Stock Gets Price Target Reduction from Keefe, Bruyette & Woods

Figure Technology Solutions (NASDAQ:FIGR) had its price target reduced by Keefe, Bruyette & Woods from $45.00 to $37.00 in a report issued on Monday morning,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the stock.

A number of other equities research analysts also recently weighed in on FIGR. Weiss Ratings downgraded Figure Technology Solutions from a “hold (c)” rating to a “sell (d+)” rating in a report on Friday, September 11th. Freedom Capital raised shares of Figure Technology Solutions to a “strong-buy” rating in a research report on Thursday, October 15th. Wall Street Zen raised Figure Technology Solutions from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. The Goldman Sachs Group set a $41.00 target price on shares of Figure Technology Solutions in a research report on Wednesday, October 7th. Finally, Piper Sandler lowered their target price on shares of Figure Technology Solutions from $75.00 to $65.00 and set an “overweight” rating on the stock in a report on Wednesday, July 15th. Three analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Figure Technology Solutions has an average rating of “Moderate Buy” and an average target price of $52.43.

Figure Technology Solutions Stock Up 3.6%

FIGR stock opened at $24.19 on Monday. Figure Technology Solutions has a one year low of $19.54 and a one year high of $78.00. The company has a 50 day moving average price of $28.71 and a two-hundred day moving average price of $32.82. The stock has a market capitalization of $4.49 billion, a P/E ratio of 26.01, a PEG ratio of 0.35 and a beta of 0.94. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.86 and a current ratio of 1.86.

Figure Technology Solutions (NASDAQ:FIGR) last posted its quarterly earnings results on Thursday, August 13th. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.11. The company had revenue of $218.45 million for the quarter. Figure Technology Solutions had a net margin of 33.45% and a return on equity of 18.90%. As a group, sell-side analysts expect that Figure Technology Solutions will post 1.18 EPS for the current year.

Insiders Place Their Bets

In other Figure Technology Solutions news, insider David Stevens sold 47,650 shares of the company’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $31.38, for a total transaction of $1,495,257.00. Following the sale, the insider directly owned 376,599 shares of the company’s stock, valued at approximately $11,817,676.62. This represents a 11.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Minchung Kgil sold 8,000 shares of Figure Technology Solutions stock in a transaction on Monday, August 24th. The stock was sold at an average price of $38.69, for a total transaction of $309,520.00. Following the transaction, the chief financial officer directly owned 483,651 shares of the company’s stock, valued at approximately $18,712,457.19. This trade represents a 1.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 26.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Figure Technology Solutions

Institutional investors have recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. bought a new position in shares of Figure Technology Solutions during the third quarter valued at $53,000. Boston Partners purchased a new position in Figure Technology Solutions during the third quarter valued at approximately $1,372,000. Voya Investment Management LLC grew its holdings in shares of Figure Technology Solutions by 319.0% during the third quarter. Voya Investment Management LLC now owns 560,174 shares of the company’s stock worth $16,161,000 after purchasing an additional 426,494 shares in the last quarter. Global Retirement Partners LLC increased its position in shares of Figure Technology Solutions by 7.4% during the 3rd quarter. Global Retirement Partners LLC now owns 14,030 shares of the company’s stock valued at $405,000 after purchasing an additional 961 shares during the last quarter. Finally, Banco Santander S.A. bought a new position in Figure Technology Solutions during the 3rd quarter valued at approximately $218,000.

Figure Technology Solutions Company Profile

Figure Technology Solutions is a financial technology company that develops blockchain-based platforms for lending and capital markets. Its technology is designed to digitize and streamline financial transactions, including loan origination and the trading of financial assets. The company’s offerings include home equity financing and technology for financial institutions and other lending partners. Figure also operates digital marketplaces and provides services supporting the issuance and transfer of assets on the Provenance Blockchain.